• Any settlements received’t restrict what individuals can say about their expertise.

“Our message to the world is that we have to flip the lights on,” Tony West, Uber’s chief authorized officer, wrote in a weblog submit.


Les Moonves, CBS’s C.E.O.

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Drew Angerer/Getty Pictures

What CBS’s declaration of conflict in opposition to Shari Redstone means

In suing Ms. Redstone to protect the independence of his board, Les Moonves might have put his job as CBS’s C.E.O. on the road. If the lawsuit fails, Ms. Redstone may change administrators and putting in a brand new chieftain. (Whether or not she would is one other matter.)

CBS believes it may well win in Delaware’s Courtroom of Chancery, and that it has a superb probability of finally issuing a particular dividend that might dilute the Redstones’ voting stake from 79 p.c to 17 p.c. Ms. Redstone is equally certain that the courts received’t let that occur to a controlling shareholder with clear rights.

The context: CBS and Viacom had been making progress in merger negotiations. However they had been nonetheless far aside on administration of the mixed firm.

Of word: One of many plaintiffs in CBS’s lawsuit is Martha Minow, the previous Harvard Regulation Faculty dean whom Ms. Redstone placed on the board final 12 months.

Critics’ nook: It’s a conflict of egos, says Jennifer Saba of Breakingviews. Traders have motive to have fun (until the corporate’s gambit fails), argues Elizabeth Winkler of Heard on the Road. Mr. Moonves is perhaps making an enormous mistake, writes Tara Lachapelle of Bloomberg Opinion.

Elsewhere in offers: Fujifilm received’t sweeten its bid for Xerox; right here’s how Carl Icahn beat it. Sears is exploring a possible sale of property. Two Canadian medical marijuana firms agreed a $2.5 billion merger.

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The political flyaround

• Moguls like Paul Singer of Elliott Administration and Ken Griffin of Citadel have reportedly lower donations to Republicans due to the tax overhaul treats hedge funds. (CNN)

• How Michael Cohen make clear the “shadow lobbying” trade. (FT)

• The Trump administration defended its revised plans to decrease drug costs, which critics say would have little impact. (NYT)

• Ben Bernanke and Stanley Fischer are among the many Fed alumni who help appointing Richard Clarida as No. 2 there. One other Fed nominee, Michelle Bowman, plans to criticize postcrisis banking laws at her Senate affirmation listening to.

• Senators led by Susan Collins of Maine launched a invoice to halt tariffs on Canadian paper imports. (Bloomberg)

• The White Home and the E.P.A. blocked publication of a research on the results of water contamination. The E.P.A.’s inside watchdog stated that Scott Pruitt demanded a 24-hour safety element from Day 1.


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Joe Raedle/Getty Pictures

ZTE reveals Trump’s swing away from commerce hard-liners

Now we all know why President Trump supplied to avoid wasting the Chinese language telecom firm: to persuade China to raise restrictions on U.S. agricultural exports. That’s counter to the method favored by the likes of Peter Navarro, a commerce adviser, and the U.S. commerce consultant, Bob Lighthizer.

It additionally reportedly displays a lack of affect for Commerce Secretary Wilbur Ross, whose division Mr. Trump directed to discover options to ZTE sanctions.

Different potential winners from the transfer: Qualcomm, whose takeover of NXP Semiconductors will probably be reviewed once more by Chinese language regulators, and JPMorgan Chase, which hopes to broaden in China.

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Elsewhere in commerce: Senators dropped a plan for nationwide safety opinions of outbound investments by U.S. firms.


The sports activities ebook on the South Level resort and on line casino in Las Vegas.

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John Locher/Related Press

What’s subsequent for sports activities playing

After the Supreme Courtroom legalized a line of enterprise already estimated to usher in $150 billion of bets every year, a swath of industries is determining the way to money in.

Tom Rogers, the chairman of the cellular sports activities betting start-up WinView (and former TiVo C.E.O.), advised Michael that broadcasters like ESPN may use on-line betting to bolster falling scores:

These gamers are those hurting and are coping with declining metrics. This gives a potential alternative. We’ll be speaking with them.

Different potential winners: Sports activities leagues. States like New Jersey. And DraftKings and FanDuel, clearly. (Purchase Lex recommends shorting the mafia.)


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Richard Drew/Related Press

Decoding the Goldman buying and selling shake-up

On the Wall Road big’s fabled securities division, two of the three high executives, Pablo Salame and Isabelle Ealet, are getting ready to retire. It’s an indication of how the operation has struggled — and the way the financial institution’s energy middle continues to tilt away from buying and selling.

Sarah Butcher of eFinancialcareers had a extra acerbic take:

For a agency which likes to filter out its backside 5 p.c of performers yearly, Goldman appeared unusually wedded to its underperforming senior companions.

Elsewhere in finance: Hedge fund moguls like Dan Loeb love the Robin Hood Basis, nevertheless it has backed nonprofits which have protested their trade. The previous head of JPMorgan Chase’s blockchain group, Amber Baldet, has unveiled a blockchain start-up, Clovyr.


Protesters in Seattle campaigning for a enterprise tax that Amazon opposed.

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Gregory Scruggs/Reuters

The tech flyaround

• Below stress from Amazon, Seattle scaled again its forthcoming tax on huge companies. Below stress from workers, the corporate agreed to a rule to enhance its board’s range. It’s additionally testing an promoting device to problem Google.

• WhatsApp is taking part in a central position in India’s elections. (NYT)

• After Cambridge Analytica and Europe’s new privateness guidelines, some advertisers are questioning Fb’s worth to them. And the corporate’s investigation into knowledge privateness abuses has blocked some 200 apps.

• Tesla reportedly rejected a plan to present its Autopilot characteristic sensors to test drivers had been paying consideration. The corporate stated it will “flatten” its administration construction.

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• New Enterprise Associates is reportedly planning to promote roughly $1 billion value of stakes in start-ups to a brand new enterprise agency it will create. (WSJ)


Invoice O’Reilly

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Andy Kropa/Invision, through Related Press

Revolving door

• Invoice O’Reilly is reportedly in superior talks to return to TV — at Newsmax. (Web page Six)

• Vittorio Colao, Vodafone’s C.E.O. for a decade, plans to step down in October, after engineering its $22 billion Liberty World deal. (Bloomberg)

• Ted Eliopoulos, chief funding officer of the Calpers public pension fund and the architect of its transfer away from hedge funds, plans to retire at 12 months finish to maneuver to New York for household causes. (Institutional Investor)

• Two administrators at Wynn Resorts, John Hagenbuch and Robert Miller, have resigned. (Bloomberg)

The velocity learn

• A U.S. federal decide appears more likely to award the Justice Division a $250 million yacht. It’s owned by Low Taek Jho, a Malaysian financier caught up within the 1MDB scandal. (Bloomberg)

• The most effective-paid C.E.O.s don’t essentially run the best-performing firms. (WSJ)

• Can robots assist each employers and workers? In some industries, in all probability sure. (WSJ)

• Royal Dutch Shell’s takeover of an English power start-up reveals how oil giants are remaking themselves. (NYT)

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